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USTaxAdvising
USTaxAdvising, CPA
Category: Tax
Satisfied Customers: 1237
Experience:  US Taxation specialist.
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Can i take installment sale on sale of non public 1120s

Customer Question

can i take installment sale on sale of non public 1120s stock bruce
Submitted: 1 year ago.
Category: Tax
Expert:  USTaxAdvising replied 1 year ago.

Hello Bruce,

Certainly, yes, you can have your 1120S sale purchase agreement stipulate that the proceeds are payable over a number of years. This way the gain on sale will be recognized in each year you receive proceeds.

Expert:  USTaxAdvising replied 1 year ago.

Just ensure that the agreement states that the proceeds are payable over future years and ensure the number of years are identified.

Expert:  USTaxAdvising replied 1 year ago.

I hope that provides the confirmation you were looking for. If not please let me know if you have any additional questions and I will get back to you as soon as I can.

Best regards,